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Sen. Scott Brown (R-Mass.) and Elizabeth Warren, a Democrat who is challenging him for his seat, signed an agreement Monday that discourages outside spending in their hard-fought Senate race, which has been inundated with millions of dollars in advertising by super PACs and other independent groups.

The pact marks a groundbreaking attempt by the candidates to gain control over outside spending, which has proliferated this year in the wake of court rulings that made it easier for corporations, unions and wealthy individuals to raise and spend unlimited amounts of money on political campaigns.

It’s unclear how effective the agreement will be, however, because candidates are prohibited from coordinating with independent groups.

Under the deal, Brown and Warren pledged to pay a penalty of 50 percent of the cost of any TV or Internet advertising by an outside group, regardless of whether the ad is aimed at supporting themselves or attacking the other candidate. The money would be given to a charity of the opposing candidate’s choice. (via)